SINGAPORE (Nov 26): The Tantallon India Fund closed down -2.31% in October, after expenses, with the rupee depreciating 2% versus the US dollar. Given the extent of the selloff in global equities over the course of the month, it did feel like a small victory to see the portfolio recover strongly into month-end on the back of our portfolio holdings starting to report strong September quarter earnings, well ahead of consensus expectations. Fundamentals are starting to re-assert themselves, and the selloff in crude has certainly helped buoy local investor sentiment.

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